Common use of Method of Redemption Clause in Contracts

Method of Redemption. If the closing bid price of the Common Stock shall have equaled or exceeded one-hundred fifty percent (150%) of the Purchase Price, as adjusted, for a period of at least twenty (20) of the last thirty trading days at any time during the term hereof and the Company has in effect a current registration statement registering the sale of shares of Common Stock underlying the Warrant, the Company may, in its sole discretion, redeem the Warrants by paying Warrant holders $.01 per Warrant, provided such notice is mailed to all Warrant holders not later than thirty (30) days after the end of such period and prescribes a redemption date at least thirty (30) days but not more than sixty (60) days thereafter. Warrant holders will be entitled to exercise Warrants at any time up to the business day next preceding the redemption date.

Method of Redemption. If the closing bid price of the Common Stock shall have equaled or exceeded one-hundred fifty percent (150%) of the Purchase Price, as adjusted, for a period of at least twenty (20) of the last thirty trading days at any time during the term hereof and the Company has in effect a current registration statement registering the sale of shares of Common Stock underlying the Warrant, the Company may, in its sole discretion, redeem the Warrants by paying Warrant holders $.01 per Warrant, provided such notice is mailed to all Warrant holders not later than thirty (30) days after the end of such period and prescribes a redemption date at least thirty (30) days but not more than sixty (60) days thereafter. Warrant holders will be entitled to exercise Warrants at any time up to the business day next preceding the redemption date.